Converted Flexible Packaging Market Size

Converted Flexible Packaging Market Analysis

The Converted Flexible Packaging Market is expected to reach a CAGR of 5.79% during the forecast period (2022 - 2027). Innovative packaging and growing utilization in end-user industries such as food & beverage, pharmaceuticals, and health & beauty are expected to promote market forecasts. The ongoing conversion from rigid to flexible formats and consumer interest in single-use packaging will continue to drive the market.

• The increasing demand for convenience-oriented processed products such as food is driving the need to transform flexible packaging, as they typically use high-barrier, high-grade packaging materials for longer shelf life. The industry is also noticing an increasing trend towards environmentally friendly formats. Innovative products such as auto-venting films that allow frozen and other foods to be steamed inside the package could represent a breakthrough in technology improvement and development.
• The growing e-commerce market in various countries creates special demand for cardboard and corrugated products, especially from transportation and logistics companies. In addition, the environmental friendliness of packaging materials has made them more popular and is driving the market.
• Further, aluminum foil is one of the popular packaging materials for converted flexible packaging. Many products, from food and beverages to cosmetics, are packaged in aluminum to maintain product integrity throughout their shelf life. According to European Aluminum Foil Association, the first three months of 2021 saw deliveries from European foil rollers reach 245,000 tonnes, up by 2.3% compared to 2020 (239,500 tonnes), led by striving performance in overseas markets, where the growth of over 10% was achieved.
• The transformed flexible packaging industry is being challenged by rising material costs and increased demand for products such as low-fat snack foods. These products require innovative technology and material combinations to meet packers' freshness needs. Technological advances include controlled and modified atmosphere (CAP/MAP) packages, resulting in much longer shelf life for produce, meat, and other products.
• The recent outbreak of COVID-19 has left converted flexible packaging manufacturers in a deluge of concerns expected to be short-lived. The pandemic lockdown impacts include supply chain disruptions, unavailability of raw materials used in manufacturing, labor shortages, price volatility that can bloat end product production and exceed budgets, and shipping issues. etc. is included.